Current Report Filing (8-k)
24 Novembre 2020 - 11:33PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF
THE
SECURITIES EXCHANGE ACT OF 1934
Date
of Report (Date of earliest event reported): November 24, 2020
GSRX
INDUSTRIES INC.
(Exact
name of registrant as specified in its charter)
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Nevada
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333-141929
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14-1982491
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(State
or other jurisdiction
of
incorporation)
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(Commission
File
Number)
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(I.R.S.
Employer
Identification
Number)
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Building
No. 3, P.E. 606, int. Jose Efron Ave.
Dorado,
Puerto Rico 00646
(Address
of principal executive offices, and zip code)
(214)
808-8649
(Registrant’s
telephone number, including area code)
N/A
(Former
Name or Former Address, if Changed Since Last Report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions (see General Instruction A.2. below):
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[ ]
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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[ ]
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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[ ]
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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[ ]
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities
registered pursuant to Section 12(b) of the Act:
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Title
of each class
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Trading
Symbol(s)
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Name
of each exchange on which registered
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N/A
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N/A
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N/A
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Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company [ ]
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
Item
1.01 Entry into a Material Definitive Agreement.
On
November 24, 2020, GSRX Industries Inc. (the “Company”) sold all of its Puerto Rican cannabis assets, held by its
wholly-owned subsidiary Project 1493, LLC (“Project 1493”), and assigned all related liabilities, licenses and permits,
to Puerto Rico Industrial Commercial Holdings Biotech, Corp. (“PRICH Biotech Corp.”) in exchange for total aggregate
consideration of US$4,643,333, comprised of immediate net cash proceeds to the Company of US$2,243,333, and monthly payments to
be received in the amount of US$100,000 over a period of 24 months.
The
Company notes that the Puerto Rico Department of Health has approved these transactions.
Item
7.01. Regulation FD Disclosure.
On
November 24, 2020, the Corporation issued a press release announcing the sale of Project 1493’s Puerto Rican cannabis assets
to PRICH Biotech Corp. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated
into this Item 7.01 by reference.
Item
9.01 Financial Statements and Exhibits.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
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GSRX
INDUSTRIES INC.
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Dated:
November 24, 2020
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By:
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/s/
Troy Nihart
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Name:
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Troy
Nihart
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Title:
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Interim
President and CEO
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